The Procurement Payments Summary dashboard template will help the stakeholders track all the payments done in the organization. It will give you a concise summary of all the payments going on, payments being made, pending payments, and goods delivered.
This dashboard wireframe uses a three-way matching technique and, based on the same, will detect if there are any discrepancies in the payments.
Some key elements of the dashboard are:
- Analyzing the count of transactions
- Analyzing the count of payments
- Analyzing the pending payments and the associated reasons.
Key Terms to Know:
- Count of transactions: Number of transactions that occurred in the given period
- Average transaction value: Average value of transactions in the given period.
- Conversion rate: Percentage of transactions that are successfully converted
- Acc payable turnover: Turnover from the goods whose amount is payable
- Categories: The payments are divided into categories, e.g., goods, services, and licenses. They are also divided based on currencies.
Payments Screen - 2
This screen provides a comprehensive overview of payment status, including pending and failed payments, alongside insights into initiated transactions and a breakdown of pending payments by reason, facilitating efficient financial management and resolution of outstanding obligations.
Key Terms to Know:
- Pending Payments: Displays payments awaiting processing or approval, providing visibility into outstanding financial obligations.
- Failed Payments: Highlights payments that have encountered errors or failed to complete successfully, enabling quick resolution and follow-up actions.
- Payments Initiated: Tracks the number of payments initiated within a specified timeframe, offering insights into transaction activity and processing volume.
- Reason-Wise Bucketed Payments: Categorizes pending payments based on reasons such as invoice discrepancies, insufficient funds, or payment delays, facilitating targeted resolution efforts.
- Pending Payments Summary Table: Summarizes key metrics related to pending payments, including total amount outstanding, number of transactions, and average processing time, aiding in monitoring and managing payment obligations efficiently.
Dashboard Template Insights
The dashboard wireframe provides essential insights for efficient financial management and payment process optimization:
- It offers a concise overview of all transactions, pending payments, and reasons for delays, helping stakeholders manage finances more effectively.
- Key metrics, including transaction count, average value, and conversion rate, deliver insights into payment performance, supporting informed decision-making.
- Screen 2 highlights pending and failed payments, enabling quick resolution and follow-up actions, ultimately improving the efficiency and effectiveness of payment processing.
- Conclusion
The Payment Summary dashboard template provides a visual overview of payment data, including the total amount paid, the number of payments, the average payment amount, and the payment methods used. This information can be used to track payment trends, identify areas for improvement, and make informed decisions about payment processing.